GREY:MLKKF - Post by User
Comment by
brendellyon Sep 24, 2008 3:34pm
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Post# 15481809
RE: WTF??
RE: WTF??Investors keep flocking to Treasury bills on bailout plan uncertainty
Madlen Read
September 24, 2008 - 2:47 p.m. NEW YORK (AP) - The strained credit markets on Wednesday kept investors scrambling for Treasury bills, nervous about potential obstacles to the passage of the bank bailout plan.
Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson have been insisting over the past two days that lawmakers quickly pass the $700 billion financial bailout plan hammered out over the weekend. But lawmakers have expressed skepticism, raising anxiety among investors that the plan plan might not go through without a fight.
The 3-month Treasury bill traded at 0.49 percent, meaning that investors were willing to earn that meager amount after three months in return for its security. That yield was down from 0.79 percent late Tuesday and from 0.88 percent late Monday.
Fundementals of a near term producing company in a supply hungry sector are on hold for the moment.